FundCanna introduces ReadyPaid, a flexible payment solution for the cannabis industry that is game-changing | How to buy CBD online

[PRESS RELEASE] SAN DIEGO (GLOBE NEWSWIRE), Sept. 03 2024 — FundCanna is proud to launch its innovative new product. ReadyPaid. This innovative flexible payment solution was developed to meet the specific needs of the cannabis sector, bridging the cash flow gap between sellers and purchasers with ease.

About ReadyPaid
ReadyPaid, a groundbreaking cannabis industry Buy Now, Pay Later solution (BNPL), offers Net30 payment terms, with the option to extend them for up to six months. ReadyPaid, unlike traditional BNPL solutions that focus on consumer transactions and are geared towards cannabis vendors and clients, is designed to meet their specific challenges. ReadyPaid promotes growth, predictability and stability in both Accounts Payable and Accounts Receivable by allowing sellers to receive payment immediately while giving buyers the flexibility to manage their cash flow.

Market Opportunity
The cannabis industry is expanding rapidly. BDSA predicts that sales will grow at a 10% compound annual growth rate from 2023-2028, resulting a $58 billion industry by 2028. Whitney Economics reports that despite this growth, the industry is facing significant challenges in terms of delinquent receivables, including an astounding $3.8 billion.¹. The industry ranks delinquent receivables as their number-one concern, over IRC 280E or other concerns. ReadyPaid tackles these issues by offering an industry-specific, reliable payment solution that ensures prompt payment, offers flexible payment terms, and helps predict cash flow.

Adam Stettner is the founder and CEO of FundCanna. He said, “As the cannabis market continues to grow and evolve, we have identified a need for financial products that address the unique challenges in cash flow management faced by both buyers and vendors.” FundCanna has the ability to offer solutions with unrestricted funds and payment terms that are in line with revenue cycles. ReadyPaid, our new and innovative BNPL, is designed to meet the most pressing need in the cannabis industry: delinquent receivables. FundCanna is committed to innovation to meet the industry’s needs and help our clients grow. Our core funding products were leveraged by more than 2,000 clients, and our average client increased their top-line revenue by over 50 percent since working with us.”

ReadyPaid: Key Features

• Industry-Specific SolutionsDesigned exclusively for the cannabis sector, this program addresses both plant-touching and ancillary transactions.
• Flexible Payment TermsNet30 Flex allows buyers to extend their payment plan at no additional cost. Sellers are paid at checkout.
• Embedded TechnologyIntegrates seamlessly with seller websites and shopping carts. Transactions are quick and frictionless.
• Regulatory ComplianceDesigned to navigate the complex regulatory environment of the cannabis industry and ensure compliance and security.

FundCanna is proud to announce the launch of ReadyPaid at PBC Conference 2024. This conference is the leading B2B event for payments, banking and compliance in cannabis. ReadyPaid is a payment solution that will add value to the entire financial ecosystem. “As CEO of PBC Conference I’m always excited about hearing about innovation in the sector. We congratulate FundCanna for the launch of ReadyPaid and appreciate their sponsorship in PBC 2024, our 5th Anniversary, contributing to the exchange ideas and insights that define cannabis payments, banking and compliance. Joshua M. Radbod CEO of PBC Conference

FundCanna is the leader in renewable payment solutions for the cannabis industry
FundCanna is the leading provider of unrestricted financing for the cannabis sector since 2021. FundCanna has underwritten over 3,000 cannabis cases and granted $300 million in access to capital. Their expertise and understanding of this industry sets them apart from traditional financial products.

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